Credit Card money to bank account the free way

perrina

Hi

I have just got a capital one platinum card with a 6k limit on and 0% purchases until Feb 09. BT of 5%.

I would like to get the money off the card into my abank account. How do I do this without incurring a BT interest rate or any other withdrawal rates?

BACS? Chaps trasnfers? tranfer by payment to NOchex (2.9% one off fee).

I also have an Egg Card i have had for years yet there is only a £700 limit.

Many thanks

Perrina

benf90

perrina wrote: »

Hi

I have just got a capital one platinum card with a 6k limit on and 0% purchases until Feb 09. BT of 5%.

I would like to get the money off the card into my abank account. How do I do this without incurring a BT interest rate or any other withdrawal rates?

BACS? Chaps trasnfers? tranfer by payment to NOchex (2.9% one off fee).

I also have an Egg Card i have had for years yet there is only a £700 limit.

Many thanks

Perrina

If you only have 0% interest on purchases then the simple answer to your question about transferring money to your current account without any charges is... you can't. You'd get charged for cash advances or BTs.

When you say 'BT 5%' I presume you mean the interest rate on BTs would be 5%? If you are happy to pay the 5% on BTs then there's two ways of doing this.

I don't know if Capital One will process a BT for a current account but if they do then ask them to send the funds to your current account.

If they don't, give them your Egg Card number and ask them to transfer whatever amount you want them to. They will just send a payment to your Egg Card on your behalf.

This will effectively put your Egg Card into credit. When that happens either call or send a message to Egg asking them to return the funds to your bank account. You won't need to give them any reason, but if you want to you could just say that you sent the money to the wrong card so you'd like it returned to your bank account.